M1

From here on out politics are only relevant at the extremes - major war, corruption scandal, martial law etc.Short of that, the fiat currency/fractional reserve banking world has such institutional momentum that it really won’t matter whether Trump is picking on bankers and building his wall or Clinton is protecting Wall Street and raising taxes. Debt will keep soaring as it has under every president since Reagan and jobs will disappear as machines replace people, thus bringing the end of the current system inexorably closer.

A Russian-made anti-tank missile reportedly obliterated a US-made Abrams tank involved in the offensive on the terrorist-held city of Mosul, Iraq. Footage of the alleged incident was released by ISIS' propaganda channel.

With a flurry of political risk events over the coming months, and a new global focus on fiscal policy, Draghi needs to reassure market players that the ECB has more ammunition as well as laying to rest the taper talk that spooked bond markets this month.

"From a growth rate perspective, the speed of credit expansion is alarming. The current pace of credit growth in China is realistically in a range between 19% and 20%, well above the reported official TSF growth of 12.4% and new loan growth of 13.0% in September. Relative to GDP, China’s credit-to-GDP ratio currently in a range from 260% to 275% of GDP as of September 2016" - Barclays

The Senate backed a $1.15 billion arms sale to Saudi Arabia, even as Congress is preparing to override an expected presidential veto of a different bill allowing 9/11 victims’ families to sue the Saudi government. The Senate voted 71-27 to table, or kill, the resolution from Sens. Rand Paul (R-Ky.) and Chris Murphy (D-Conn.) that would have blocked the $1.15 billion sale of Abrams tanks to Saudi Arabia, which the State Department approved last month

European leaders have responded to new challenges in this post-war era with old solutions. Chief among them is the forced integration of Europe into a single political and economic construct. There are two options when an “unelected mafia” has seized control: elections and revolution.The Brits opted for an election. What if Italy, Portugal, and/or the Netherlands do the same, with the same outcome?

The last few months have seen trillions of dollars of fresh credit puked into existence in China to enable goal-seeked growth numbers to creep lower (as opposed to utterly collapse). The problem is... the Chinese are hoarding that cash at the fastest pace since Lehman as liquidity concerns flood through the nation.

One day after all three US indexes hit record highs for the first time since December 31, 1999, US equity index futures, European stocks and Asian equities are little changed after the Nikkei jumped on the back of a Yen weakness, while China reported disappointing economic data and the PBOC suggested that the flood of new debt is slowing which pushed Chinese stocks higher by 1.6% on hopes of more stimulus.

This rotting shack in Sydney and its tiny plot of land sold for nearly $1 million in May of 2014 – more than two years ago. Since then, house prices in Australia have increased even further. Yes, it is an insane bubble, no doubt about it... and now, it appears, the banks are finally realizing, and are pulling back.

"A general acceptance of the principles of the flexible standard must therefore result in a race between the nations to outbid one another. At the end of this competition is the complete destruction of all nations’ monetary systems."

The tremendous rally of the past 4 days that has sent global stocks soaring in recent days has finally been capped and European shares, S&P futures are all modestly lower following a deadly terror attack in Nice, France. Meanwhile Asian stocks rose as Chinese economic data beat estimates, with Q2 GDP rising by 0.1% more than the estimated 6.6% on the back of stronger housing data.